Payment Law Advisor Legal Commentary and Resources for the Payment Industry

Richard A. Gibbs

Posts by Richard A. Gibbs

Federal Trade Commission Hosts Public Workshop on Mobile Payments

Posted in Regulatory and Compliance
On April 26, 2012, the Federal Trade Commission (“FTC”) held a public workshop entitled “Paper, Plastic . . . or Mobile? An FTC Workshop on Mobile Payments” to examine the use of mobile payments in the marketplace and their impact on consumers. The workshop provided information on the nascent mobile payments industry and a forum for dialogue betwe… Read the rest

MasterCard Introduces U.S. Roadmap to Enable Next Generation of Electronic Payments

Posted in Deals and Technology
On January 30, 2012, MasterCard introduced its roadmap for migration from magnetic stripe to EMV technology.  MasterCard states that the roadmap will serve as the foundation for MasterCard’s next generation of products and services developed to enhance the way consumers pay. Chris McWilton, MasterCard President of U.S. Markets states that Master… Read the rest

Mobile Banking: Risks and Rewards

Posted in Privacy and Data Security
Mobile banking is a relatively new channel for delivering banking products and services that is rapidly gaining popularity.  As with any new technology deployed for financial services, there are risks associated with the use and storage of personal information of the user.  A recent article by Jeffrey M. Kopchik in the FDIC’s Winter edition of Super… Read the rest

Fed Economists Suggest a Centralized Independent Public Entity to Create e-Payments Security Standards

Posted in Privacy and Data Security
With the growth of e-commerce and m-commerce, remote payments fraud has grown in response.  In a letter released December 7, 2011 (available here), economists from the Federal Reserve Bank of Chicago argue that a centralized public sector organization is needed to establish standards governing security of electronic payments and coordinate with reg… Read the rest

Patent Suit Could Have Sweeping Impact on Mobile Banking and Payments

Posted in Deals and Technology
Maxim Inc., a semiconductor manufacturer based in Sunnyvale, California, has filed separate patent infringement actions against Starbucks, Expedia Inc., Capital One Financial Corp. and Bank of the West claiming that their mobile payment applications for smartphones infringe on four patents held by Maxim.  The suits were filed in federal court in E… Read the rest

MasterCard and Visa Initiatives to Target Advertising Demand Close Attention to Financial Privacy Rules

Posted in Privacy and Data Security
The ability to provide offers or ads targeted to the right person at the right place and at the right time may get a little easier.  Not content with simply being a brand behind payments, MasterCard and Visa are pushing into the targeted ads and offers business.  Such marketing tactics require careful structuring in order to comply with consumer privacy pr… Read the rest

Mobile Payments 101: How Do They Work?

Posted in Deals and Technology
This presentation covers: What is a mobile payment? Mobile payment technology Near field communications Value proposition and challenges Critical issues Click here to download the presentation. Due to the technical nature of their content, slides 14, 22, and 23 are accompanied by audio commentary from DWT Payments Team member Richard Gibbs. To… Read the rest

Visa’s Chip Card Initiative: A Good Start Towards U.S. EMV Adoption – But Is It Enough?

Posted in Privacy and Data Security
The Unites States is the last major holdout in switching to EMV.  Many think Visa’s recent program to promote the use of EMV in the United States will change that.  According to many industry commentators, Visa’s program is both a welcome and long overdue shift away from magnetic stripe (“mag stripe”); however, it may not be the start everyone is h… Read the rest

Evolution of the Mobile Landscape: Classification of Emerging Mobile Payment Systems

Posted in Deals and Technology
With the exponential growth of smartphone sales, start-ups and established technology and financial service companies alike are seeking to launch innovative mobile payments solutions. Such programs may leverage the existing mobile infrastructure, such as short messaging service (SMS), introduce new technology, such as near field communication (… Read the rest